Holding(s) in Company

Law Debenture Corp PLC
28 March 2002

THE LAW DEBENTURE CORPORATION p.l.c. ('the Corporation') was notified on 28
March 2002 pursuant to Sections 198-202 of the Companies Act 1985 (as amended)
by MERCHANT NAVY PENSIONS ADMINISTRATION LIMITED of the following transaction
affecting notifiable interests in the ordinary shares in the Corporation held by
the Merchant Navy Officers Pension Fund:


27 March 2002:            Sold 145,000 shares


This transaction decreases the Merchant Navy Officers Pension Fund holding to
690,000 shares (all of which are registered in the name of Chase Nominees
Limited), representing 2.953% of the issued share capital of the Corporation.
 
          



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